Wire stories category, Page 62
Stocks rise on Wall Street as retail sales remain healthy
Stocks closed higher Tuesday on Wall Street as investors reviewed solid earnings reports from big retailers and a surprisingly strong report on consumer spending. The government reported that Americans largely shrugged off higher prices last month and stepped up their spending at retail stores and online. The Commerce Department said...
Stock indexes end wobbly day mostly lower on Wall Street
Stocks closed mostly lower after wobbling most of Monday on Wall Street as the market comes off its first weekly loss in six weeks and investors move past the recent round of mostly solid corporate earnings. The S&P 500 fell less than 1 point, or less than 0.1% to 4,682.80....
Washington seeks over $38 billion from opioid distributors
SEATTLE — After rejecting a half-billion-dollar settlement, Washington Attorney General Bob Ferguson on Monday took the state’s case against the nation’s three biggest drug distributors to trial, saying they must be held accountable for their role in the nation’s opioid epidemic. The Democrat delivered part of the opening statement in...
Key reason for supply shortages: Americans keep spending
Take a step back from the picked-over store shelves, the stalled container ships and the empty auto showrooms, and you’ll find a root cause of the shortages of just about everything. Even as the pandemic has dragged on, U.S. households flush with cash from stimulus checks, booming stock markets and...
Stocks wobble on Wall Street ahead of retailer earnings
Stocks wobbled in midday trading on Wall Street Monday as the market comes off its first weekly loss in six weeks. The S&P 500 fell 0.1% as of 11:56 a.m. Eastern. The Dow Jones Industrial Average rose 9 points, or less than 0.1%, to 36,109 and the Nasdaq fell 0.3%....
Alzheimer’s drug cited as Medicare premium jumps by $21.60
Medicare’s “Part B” outpatient premium will jump by $21.60 a month in 2022, one of the largest increases ever. Officials said Friday a new Alzheimer’s drug is responsible for about half of that. The increase guarantees that health care will gobble up a big chunk of the recently announced Social...
Amazon workers in New York withdraw petition to unionize
The National Labor Relations Board has confirmed that a group of Amazon workers in Staten Island, New York has withdrawn its petition to hold a vote to unionize. The move comes less than two weeks before the labor board was expected to hold a hearing to determine whether there was...
Stocks close higher, but indexes still end week in the red
Stocks closed higher on Wall Street on Friday, but the market still ended the week lower as inflation worries weighed on investors’ moods earlier in the week. The S&P 500 index added 33.58 points, or 0.7%, to end at 4,682.85. While it closed higher, the benchmark index still ended the...
Spotify to buy Ohio audiobooks firm, expanding audio ambitions
Spotify on Thursday said it will buy Ohio-based audiobooks distribution company Findaway as the Swedish streaming service continues to expand its audio offerings beyond music and podcasts. “It is Spotify’s ambition to be the destination for all things audio both for listeners and creators,” Gustav Söderström, Spotify’s chief research &...
Kellogg’s files lawsuit against its striking cereal workers
OMAHA, Neb. — The Kellogg Co. has filed a lawsuit against its local union in Omaha complaining that striking workers are blocking entrances to its cereal plant and intimidating replacement workers as they enter the plant. The company based in Battle Creek, Mich., asked a judge to order the Omaha...
Hot inflation report slams bond market, sends stocks lowerVideo
NEW YORK — An eye-opening report on inflation that was hotter than expected slammed into the bond market on Wednesday, sending yields jumping, and helped knock stocks lower. Prices for beef, electricity and other items that consumers paid in October surged from year-ago levels at the fastest overall pace since...
Hershey goes salty, buys Dot’s Homestyle Pretzels for $1.2B
Hershey is expanding its salty snack portfolio with the purchase of Dot’s Homestyle Pretzels. The Hershey Co. said Wednesday it will spend $1.2 billion for North Dakota-based Dot’s Pretzels LLC as well as Pretzels Inc., an Indiana-based manufacturer of Dot’s Pretzels that operates three plants. The deal is expected to...
Another day, another record on Wall Street as stocks inch up
NEW YORK — Wall Street clawed its way to more records on Monday, with stock indexes creeping higher after another listless day of trading. The S&P 500 inched up by 4.17 points, or 0.1%, to 4,701.70 after drifting between a small loss and gain through the day. It’s the eighth...
U.S. charges 2 suspected major ransomware operators
WASHINGTON — A suspected Ukrainian hacker has been arrested and charged in the United States in connection with a string of costly ransomware attacks, including one that snarled businesses around the globe on the Fourth of July weekend, U.S. officials said Monday. Yaroslav Vasinskyi was arrested last month after traveling...
Gun maker Remington moves to Georgia in $100M, 856-job deal
ATLANTA — Gun maker Remington Firearms will move its headquarters from Ilion, New York, to Georgia, with plans to open a factory and research operation there. The company announced Monday that it would invest $100 million in the operation in LaGrange, Georgia, southwest of Atlanta, hiring 856 people over five...
Deere warns striking workers not to expect better offerVideo
Deere executives said Wednesday that the company wouldn’t return to the bargaining table with striking workers because it wouldn’t offer a better contract than one they rejected that included immediate 10% raises. Marc Howze, the chief administrative officer of Deere & Co., said the deal the United Auto Workers union...
Stocks rise after Fed says it will dial back aid for economyVideo
Stock indexes on Wall Street shrugged off a downbeat start and notched more record highs Wednesday after the Federal Reserve announced plans to begin reducing the extraordinary aid for the economy it has been providing since the early days of the pandemic. The S&P 500 rose 0.6% and the Dow...
Stocks gain, pushing the Dow Jones industrials over 36,000 for 1st timeVideo
Wall Street added to its recent run of milestones Tuesday as stock indexes hit new highs again and the Dow Jones Industrial Average closed above 36,000 points for the first time. The Dow and benchmark S&P 500 each rose 0.4%. The Nasdaq gained 0.3%. The three indexes also notched all-time...
U.S. files antitrust suit to stop major book publisher merger
The Justice Department is suing to block a $2.2 billion book publishing deal that would have reshaped the industry, saying consolidation would hurt authors and, ultimately, readers. German media giant Bertelsmann’s Penguin Random House, already the largest American publisher, wants to buy New York-based Simon & Schuster, whose authors include...
Major Wall Street stock indexes eke out more record highs
Stocks closed with modest gains Monday on Wall Street, extending the major indexes’ recent record-setting run. The S&P 500 rose 0.2% after spending much of the day wavering between small gains and losses. The Dow Jones Industrial Average added 0.3% and the Nasdaq rose 0.6%. The gains pushed the three...
Coca-Cola acquires remainder of sports drink BodyArmor for $5.6BVideo
Coca-Cola Co. is making a multibillion-dollar bet on the sports drink brand BodyArmor as part of a larger push to diversify its offerings. Coke said Monday it paid $5.6 billion for the remaining 85% of BodyArmor. Coke originally bought a 15% stake in the BodyArmor in 2018. Coke confirmed that...
‘Deja vu all over again’: American Airlines cancels hundreds more flights Sunday
DALLAS — American Airlines has canceled nearly 700 flights so far Sunday, adding to more than 1,000 already called off as the airline struggled to recover from slowed operations caused by weather on Thursday and Friday. Nearly a quarter of the mainline operations for the Fort Worth-based carrier were sidelined...
Broad gains for stocks push S&P 500, Nasdaq to record highsVideo
A broad rally for stocks on Wall Street sent the S&P 500 and Nasdaq to new highs Thursday, as the market more than made up for modest losses a day earlier. The S&P 500 rose 1%, posting its third all-time high this week. More than 80% of the stocks in...
Merck envisions billions from covid-19 treatment sales
Merck fell out of the race to develop covid-19 vaccines earlier this year but could vault to head of the pack for treatments in 2022. The drugmaker’s potential antiviral, molnupiravir, may generate $5 billion to $7 billion in sales through next year, company executives told analysts Thursday morning. That could...
New home sales jumped 14% in September
WASHINGTON — Sales of new homes jumped 14% in September to the fastest pace in six months as strong demand helped offset rising prices. The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 800,000 units last month which was well...
